Retina Paints Limited (RETINA.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2480.4%

-₹618.91

vs ₹26.00 price

Levered DCF

-₹878.53

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.06

Grey zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	144.61×	51.76×	137.55×	195.52×	0×	177.19×	157.5×
P/B	2.64×	1.82×	4.6×	4.65×	0×	8.56×	8.12×
P/S	3.87×	3.01×	8.72×	5.3×	0×	1.19×	1.08×
EV / EBITDA	37.35×	22.16×	56×	74.73×	9.73×	27.95×	29.71×
Gross margin	59.4%	56.2%	53.5%	43.0%	43.5%	44.9%	50.0%
Operating margin	9.4%	11.6%	11.6%	34.5%	35.7%	29.8%	29.1%
Net margin	2.7%	6.3%	6.4%	2.7%	2.2%	0.7%	0.7%
Current ratio	2.32×	2.36×	2.33×	1.93×	1.5×	1.53×	1.57×
Debt / equity	0.53×	0.26×	0.31×	0.34×	2.48×	6.44×	3.51×
Interest coverage	1.61×	2.57×	1.94×	9.98×	7.44×	7.13×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.8%	3.8%	3.4%	2.4%	6.6%	4.8%	5.1%
Return on invested capital	2.8%	3.9%	3.3%	16.5%	19.8%	14.7%	28.1%
Return on assets	1.0%	2.4%	2.2%	1.5%	1.3%	0.5%	0.7%
Free cash flow yield	-8.2%	-19.7%	-10.6%	-12.8%	0.0%	-34.6%	-22.4%
Earnings yield	0.7%	2.1%	0.7%	0.5%	0.0%	0.6%	0.6%
Enterprise value	₹1.1B	₹707.4M	₹1.1B	₹619.9M	₹56.4M	₹142.2M	₹104.2M
Net debt / EBITDA	5.97×	2.69×	3.38×	4.74×	9.73×	11.9×	8.69×
Cash conversion cycle (days)	786	609	651	213	266	242	186